The Global Economic War Of The 21st Century And INDIA's Role In It

IMT Hyderabad, 06th March 2024: Institute of Management Technology (IMT), Hyderabad, on 06th March 2024, organized its fourth session of the Global Immersion Program (GIP). The guest speaker for the session was Prof. Antonia Colibasanu, Senior Geopolitical Analyst at Geopolitical Futures and a Senior Fellow for the Eurasia Program at the Foreign Policy Research Institute. She has authored numerous publications on the subjects of geopolitics and geoeconomics, including notable works such as “Geopolitics, Geoeconomics, and Borderlands: A Study of a Changing Eurasia and Its Implications for Europe” and “Contemporary Geopolitics and Geoeconomics.” The session aimed to enlighten students on the topic – “The Global Economic War of the 21st Century and India’s Role in it”.Prof. (Dr.) Nitin Gupta, Chairperson – International Relations, IMT Hyderabad, welcomed the speaker, after which Mohan Garje, a first-year PGDM student, formally introduced the speaker to the students.

The session commenced with Prof. Antonia providing an overview of geopolitics and its three major dimensions: economics, conflict, and politics. She illustrated how the Global Military War translates into the Global Economic War, using the Russia-Ukraine conflict as an example. She emphasized the significance of using maps to comprehend the interplay of geography, economics, and politics. Furthermore, she advocated using globe-based maps rather than flat representations, stating, “We do not live on a flat earth.”

Prof. Antonia underscored that while understanding the role of geopolitics in trade, it is important to understand how a society develops within the geographical topographies, explaining how humans living in plains differ from those living in mountains. By quoting that we live in a non-static reality, she highlighted the importance of continuously analysing our nation’s state in terms of four key factors: our ability to control outbound investment, our influence over commodity and energy flows, the positive perception on market features and centrality of the global financial system. These factors collectively provide insights into the stability of a nation's position within the global economy.

The speaker explicitly articulated that the core concept in both geopolitics and geoeconomics is centered around how a country holds power and expands its influence through strategic relationships with other nations. She elaborated on this matter by pointing out how resource management and infrastructure development contribute to this power consolidation. Prof. Antonia also discussed geopolitical problems such as income inequality which exists in both developed as well as developing countries, trade wars, and supply chain shocks, emphasizing the importance of managing stocks by citing the need for food and pharmaceutical stocks during the pandemic, COVID-19.

The conversation then focused on India and its borderland challenges, particularly concerning China and the Middle-Eastern neighbours. The speaker mentioned that though India is playing smart in handling geopolitical situations, it still needs to focus on critical infrastructures like education and health.

Prof. Antonia concluded her address with a thought-provoking quote, reminding us that geopolitical situa-tions give us a lesson to never be afraid of fears because they often catalyze change, and innovation flourish-es amidst crises. The session further proceeded to a Q&A round where students actively posed their doubts. Upon the successful conclusion, Prof. (Dr.) Nitin Gupta and the students expressed their heartfelt gratitude and thanked Prof. Antonia Colibasanu for delivering such an enlightening discourse.

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